Deutsche Bank AG Acquires 93,136 Shares of Canopy Growth Corp (CGC)

Deutsche Bank AG Acquires 93,136 Shares of Canopy Growth Corp (CGC)

By Andrew Sebastian – April 27, 2019

Deutsche Bank AG grew its holdings in Canopy Growth Corp (NYSE:CGC) by 111.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 176,861 shares of the marijuana producer’s stock after buying an additional 93,136 shares during the period. Deutsche Bank AG owned 0.05% of Canopy Growth worth $4,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Gradient Investments LLC raised its position in shares of Canopy Growth by 29.2% in the fourth quarter. Gradient Investments LLC now owns 1,063 shares of the marijuana producer’s stock valued at $29,000 after buying an additional 240 shares during the last quarter. Focused Wealth Management Inc raised its position in shares of Canopy Growth by 16.3% in the fourth quarter. Focused Wealth Management Inc now owns 2,462 shares of the marijuana producer’s stock valued at $66,000 after buying an additional 345 shares during the last quarter. First Manhattan Co. raised its position in shares of Canopy Growth by 13.6% in the fourth quarter. First Manhattan Co. now owns 3,140 shares of the marijuana producer’s stock valued at $84,000 after buying an additional 375 shares during the last quarter. IPG Investment Advisors LLC raised its position in shares of Canopy Growth by 5.6% in the fourth quarter. IPG Investment Advisors LLC now owns 7,472 shares of the marijuana producer’s stock valued at $210,000 after buying an additional 395 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its position in shares of Canopy Growth by 19.5% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 3,375 shares of the marijuana producer’s stock valued at $91,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 8.54% of the company’s stock.

Get Canopy Growth alerts: 

A number of equities research analysts have recently commented on CGC shares. Desjardins started coverage on shares of Canopy Growth in a research report on Thursday. They issued a “buy” rating for the company. Piper Jaffray Companies set a $60.00 target price on shares of Canopy Growth and gave the company a “buy” rating in a research report on Saturday, February 2nd. GMP Securities cut shares of Canopy Growth from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. CIBC started coverage on shares of Canopy Growth in a research report on Friday, January 18th. They issued an “outperform” rating for the company. Finally, Seaport Global Securities started coverage on shares of Canopy Growth in a research report on Thursday, February 21st. They issued a “neutral” rating and a $46.27 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $57.85.

Canopy Growth stock opened at $49.91 on Friday. Canopy Growth Corp has a 12-month low of $21.00 and a 12-month high of $59.25. The stock has a market cap of $17.18 billion, a P/E ratio of -155.97 and a beta of 4.22. The company has a quick ratio of 17.12, a current ratio of 17.85 and a debt-to-equity ratio of 0.10.

Canopy Growth (NYSE:CGC) last released its quarterly earnings data on Thursday, February 14th. The marijuana producer reported ($0.67) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.52). Canopy Growth had a negative return on equity of 14.39% and a negative net margin of 267.40%. The firm had revenue of $62.85 million for the quarter, compared to analyst estimates of $66.09 million. As a group, equities research analysts predict that Canopy Growth Corp will post -1.19 earnings per share for the current year.

Canopy Growth Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, Bedrocan Canada, CraftGrow, and Foria brand names.

Member Login
Welcome, (First Name)!

Forgot? Show
Log In
Enter Member Area
My Profile Not a member? Sign up. Log Out